NorthCrest Asset Manangement LLC Invests $595,000 in Omnicom Group Inc. $OMC

NorthCrest Asset Manangement LLC purchased a new position in Omnicom Group Inc. (NYSE:OMC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,594 shares of the business services provider’s stock, valued at approximately $595,000.

Several other institutional investors also recently added to or reduced their stakes in OMC. First Eagle Investment Management LLC purchased a new stake in Omnicom Group in the 3rd quarter valued at about $515,145,000. Bank of New York Mellon Corp increased its position in shares of Omnicom Group by 73.6% during the third quarter. Bank of New York Mellon Corp now owns 6,652,469 shares of the business services provider’s stock worth $542,376,000 after acquiring an additional 2,820,553 shares during the period. State Street Corp increased its position in shares of Omnicom Group by 15.8% during the third quarter. State Street Corp now owns 16,863,327 shares of the business services provider’s stock worth $1,384,980,000 after acquiring an additional 2,298,652 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Omnicom Group by 30.5% during the third quarter. JPMorgan Chase & Co. now owns 8,107,021 shares of the business services provider’s stock valued at $660,969,000 after acquiring an additional 1,893,316 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new stake in shares of Omnicom Group during the second quarter valued at approximately $67,048,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Analysts Set New Price Targets

OMC has been the topic of several research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Omnicom Group in a research note on Thursday, January 22nd. Barclays lifted their target price on Omnicom Group from $82.00 to $90.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Bank of America reiterated an “underperform” rating and issued a $77.00 target price (down from $87.00) on shares of Omnicom Group in a report on Monday, January 5th. UBS Group increased their price target on Omnicom Group from $108.00 to $114.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Finally, Morgan Stanley initiated coverage on Omnicom Group in a research note on Tuesday, December 16th. They set an “equal weight” rating and a $88.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $95.86.

Omnicom Group Price Performance

NYSE OMC opened at $75.68 on Thursday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.81 and a current ratio of 0.93. The firm’s 50 day moving average price is $77.39 and its 200-day moving average price is $77.01. Omnicom Group Inc. has a 52-week low of $66.33 and a 52-week high of $87.17. The company has a market cap of $23.49 billion, a PE ratio of 154.45, a P/E/G ratio of 0.63 and a beta of 0.71.

Omnicom Group (NYSE:OMC) last issued its quarterly earnings data on Wednesday, February 18th. The business services provider reported $2.59 EPS for the quarter, missing analysts’ consensus estimates of $2.94 by ($0.35). The business had revenue of $5.53 billion during the quarter, compared to the consensus estimate of $7.58 billion. Omnicom Group had a positive return on equity of 25.65% and a negative net margin of 0.32%.The business’s quarterly revenue was up 27.9% on a year-over-year basis. During the same period last year, the firm earned $2.41 EPS. Sell-side analysts forecast that Omnicom Group Inc. will post 8.25 EPS for the current fiscal year.

Omnicom Group announced that its Board of Directors has authorized a share repurchase program on Wednesday, February 18th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the business services provider to repurchase up to 38.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Omnicom Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Wednesday, March 11th will be issued a $0.80 dividend. The ex-dividend date is Wednesday, March 11th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 4.2%. Omnicom Group’s dividend payout ratio (DPR) is currently 653.06%.

Omnicom Group Profile

Omnicom Group Inc (NYSE: OMC) is a global marketing and corporate communications holding company headquartered in New York City. Founded in 1986 through the merger of the BBDO, DDB and Needham Harper agencies, Omnicom has built a portfolio of leading brands and networks serving clients across diverse industries.

The company’s primary business activities encompass advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations, and customer relationship management.